XRP/USDT
1D/4H Chart
XRP grinding upwards as it had a CHoCH creating new HH and HL on the daily. Corrected into the golden fib respecting the new uptrend.
On the 4H price couldn’t maintain intermediate trend line, had a higher low but seems to be forming a LH which would looking to start a temporary downtrend on the LTF (lower time frame). From the start of the impulse move the price has corrected into the golden fib again with nice rejection pinball candles on the 4H. Based on other ALT charts if this continues id expect to see a falling wedge pattern occur into the trend before seeing a breakout to the further upside but this is just a general idea based on other charts I’ve seen.
1D/4H Chart
XRP grinding upwards as it had a CHoCH creating new HH and HL on the daily. Corrected into the golden fib respecting the new uptrend.
On the 4H price couldn’t maintain intermediate trend line, had a higher low but seems to be forming a LH which would looking to start a temporary downtrend on the LTF (lower time frame). From the start of the impulse move the price has corrected into the golden fib again with nice rejection pinball candles on the 4H. Based on other ALT charts if this continues id expect to see a falling wedge pattern occur into the trend before seeing a breakout to the further upside but this is just a general idea based on other charts I’ve seen.